Merchandise exports increase by 8.9 percent

Registered export earnings for April 2004 grew by 8.9 percent to $2.969 billion from $2.726 billion during the same month last year.

Receipts from merchandise exports for January to April 2004 went up by 6.9 percent to $12.162 billion from $11.376 billion during the same period of 2003.

Electronic products up by 4.2 percent

Electronic products, accounting for 66.1 percent of the aggregate export revenue in April, registered an increase of 4.2 percent to $1.963 billion from $1.884 billion last year.

Among the major groups of electronic products, components/devices (Semiconductors) dominated the groupings with 44.0 percent share to total exports. Semiconductors dropped by 2.4 percent to $1.307 billion from $1.339 billion during the same period a year ago. The electronic products group that showed growth were medical/industrial instrumentation at 144.7 percent with a share of 0.02 percent to total exports, control and instrumentation at 124.3 percent with a share of 0.02 percent, office equipment at 49.5 percent with a share of 0.45 percent, automotive electronics at 28.6 percent with a 1.14 percent share, consumer electronics at 26.4 percent with a share of 1.66 percent and edp at 20.3 percent with a share of 17.47 percent.

Articles of apparel and clothing accessories remained as the countrys second top earner with a combined share of 4.6 percent and an aggregate receipt of $136.57 million or 2.7 percent lower than $140.38 million a year earlier.

Coconut oil , ranked third with total revenue of $60.12 million reflecting a 165.6 percent positive growth from $22.63 million during the same period of 2003.

Other products manufactured from materials imported on consignment basis , ranked fourth with sales amounting to $59.91 million or a year-on-year growth of 52.6 percent from $39.26 million.

Revenue from cathodes and sections of cathodes, of refined copper climbed by as much as 239.6 percent to $40.46 million from $11.92 million.

Rounding up the list of the top exports for the month of April 2004 were: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), $39.33 million; woodcrafts and furniture, $38.30 million; bananas (fresh), $28.16 million; metal components, $22.94 million; and petroleum products, $22.77 million.

Total receipts for the top ten exports reached $2.412 billion, or 81.2 percent of the total exports.

Fig. 1. Philippine Top Exports: April: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 Manufactured goods register 7.3 percent increase

Accounting for 87.8 percent of the total receipts, exports of manufactured goods gained by 7.3 percent as sales amounted to $2.605 billion, from $2.429 billion during the same month a year earlier.

Income from all agro-based products, combined for $164.26 million or 5.5 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group increased by 25.5 percent from $130.89 million.

Special transactions were up by 16.0 percent to $96.88 million from $83.50 million, while receipt from exports of mineral products picked up by 75.4 percent to $75.78 million from $43.21 million.

Petroleum products contributed earnings at $22.77 million, while forest products registered $3.61 million dollars.

Fig. 2. Philippine Exports by Commodity Group: April: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 

Exports to Japan account for 17.4 percent

Accounting for 17.4 percent of the country's aggregate income for the month, exports to Japan valued at $516.83 million, went up by 26.9 percent from last year's reported figure of $407.39 million.

United States followed with a 16.3 percent share. Valued at $483.15 million, exports to US fell by 9.7 percent from $535.05 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $288.04 million or 9.7 percent of the total. Receipts expanded by 7.8 percent from $267.17 million compared to the same period of 2003.

Hong Kong accounted for 8.5 percent of the total receipts, with $253.21 million reflecting a 12.2 percent increment from $225.76 million during the same month a year earlier.

Other top markets for April 2004 were: Singapore, $243.53 million; Taiwan, $201.56 million; Malaysia, $176.97 million; Germany, $146.43 million; People's Republic of China, $141.29 million; and Thailand, $92.84 million.

Total export receipts from RP's top ten markets for the month of April amounted to $2.544 billion or 85.7 percent of the total.

Fig. 3. Philippine Top Exports by Country: April 2004
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
                Industry and Trade Statistics Department
                National Statistics Office
                Manila, Philippines